Arcutis Biotherapeutics’ (ARQT) “Buy” Rating Reiterated at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a report issued on Thursday morning,Benzinga reports.

ARQT has been the topic of several other research reports. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday. Mizuho raised their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Jefferies Financial Group upped their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday. Finally, The Goldman Sachs Group upped their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.80.

Arcutis Biotherapeutics Price Performance

ARQT stock opened at $14.73 on Thursday. The business’s 50-day moving average is $14.20 and its two-hundred day moving average is $12.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The firm has a market capitalization of $1.75 billion, a P/E ratio of -8.23 and a beta of 1.67. Arcutis Biotherapeutics has a 1 year low of $6.99 and a 1 year high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. Analysts anticipate that Arcutis Biotherapeutics will post -1.33 earnings per share for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In related news, insider Patrick Burnett sold 12,242 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $15.04, for a total transaction of $184,119.68. Following the transaction, the insider now directly owns 121,936 shares of the company’s stock, valued at approximately $1,833,917.44. The trade was a 9.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.71, for a total transaction of $127,100.00. Following the completion of the transaction, the director now directly owns 141,944 shares of the company’s stock, valued at approximately $1,804,108.24. The trade was a 6.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,099 shares of company stock worth $631,256 over the last quarter. 9.50% of the stock is currently owned by insiders.

Institutional Trading of Arcutis Biotherapeutics

Several hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new stake in shares of Arcutis Biotherapeutics during the third quarter valued at about $25,000. GF Fund Management CO. LTD. acquired a new stake in Arcutis Biotherapeutics during the 4th quarter worth about $34,000. Venturi Wealth Management LLC acquired a new position in Arcutis Biotherapeutics in the 4th quarter valued at approximately $46,000. Erste Asset Management GmbH acquired a new stake in Arcutis Biotherapeutics during the third quarter valued at $104,000. Finally, Cibc World Markets Corp bought a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at approximately $140,000.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.